Reference no: EM132572625

The following statement of financial position and statement of comprehensive income should be used.

Woodburn, Inc.

2018 Statement of comprehensive income

($ in thousands)

Net Sales $6,380

Less: Cost of Goods Sold 4,120

Less: Depreciation 360

Earnings Before Interest and Taxes 1,900

Less: Interest Paid 45

Taxable Income 1,855

Less: Taxes 650

Net Income 1,205

Woodburn, Inc.

Statement of financial position

Years ended 2017 and 2018

($ in thousands)                  2017                   2018

Cash                                    $230                $340

Accounts payable                  $850                  1,020

Accounts rec.                          910                   950

Long-term debt                        1,650                1,400

Inventory                                1,490                 1,460

Common stock                         2,500                  2,200

Total                                      2,630                     $2,750

Retained earnings                      820                         1,350

Net fixed assets                         3,190                       3,220

Total assets                                $5,820                   $5,970

Total liabilities & equity                    $5,820              $5,970

Question 1: How many dollars of sales are being generated by every $1 that Woodburn has in total assets($ in thousands)? (Use 2018 assets)